Banque du Caire sale in 2008

The promotion and sale of Banque du Caire are to take place in April-june 2008, an Egypt’s senior bank official announced yesterday“A contract would be signed with JP Morgan, on the transaction by the end of this month”, said Mr. Mohamed Barakat the board chairman of Banque Misr and the official spokesman on the sale of Banque du Caire, according to Middle East News Agency. JP Morgan will value the bank, advice on marketing it and provide alternatives to selling the bank.The valuation by JP Morgan will be reviewed and approved by a cabinet committee.